India had a busy deals calendar in 2022, with companies led by Biocon striking large M&A deals while PE activity declined. Scrip pieced together data for infographics on these deals. A multitude of factors is expected to keep the momentum going in 2023

Cipla set to hold 10.35% in biotech Ethris, which is progressing inhaled mRNA-based therapies, among other key assets. The Indian firm expects its next wave of growth to come from areas like biosimilars and mRNA alongside lung leadership aspirations, putting the spotlight on the broader direction of the deal.

Mersana signs its third ADC partnership with big pharmas for the year with Merck agreement. Lilly expands its RNA editing partnership with ProQR, which now has the potential to earn an additional $2.5bn. Novartis continues its divestment efforts in deals with Harrow, Erasca.

With India’s first and the world’s third mRNA vaccine, Gennova plans to provide access to its COVID-19 vaccine to those deprived of doses from Pfizer and Moderna. HDT Bio Corp’s suit in the US is not seen impacting marketing plans in India, COO tells Scrip